Brokerages Anticipate Inter Parfums, Inc. (IPAR) Will Post Quarterly Sales of $161.20 Million
Equities research analysts expect Inter Parfums, Inc. (NASDAQ:IPAR) to post $161.20 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Inter Parfums’ earnings, with the highest sales estimate coming in at $165.50 million and the lowest estimate coming in at $157.10 million. Inter Parfums reported sales of $157.62 million during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to report its next earnings results on Tuesday, November 14th.
On average, analysts expect that Inter Parfums will report full-year sales of $161.20 million for the current year, with estimates ranging from $563.60 million to $578.30 million. For the next financial year, analysts forecast that the business will report sales of $611.80 million per share, with estimates ranging from $591.70 million to $631.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Inter Parfums.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The business had revenue of $129.10 million during the quarter, compared to the consensus estimate of $122.57 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year.
IPAR has been the subject of several analyst reports. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, September 1st. DA Davidson restated a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Citigroup Inc. restated a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.20.
Shares of Inter Parfums (IPAR) opened at 39.85 on Friday. The company’s 50 day moving average is $38.68 and its 200-day moving average is $36.68. The company has a market cap of $1.24 billion, a P/E ratio of 30.89 and a beta of 1.77. Inter Parfums has a 12 month low of $29.40 and a 12 month high of $41.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 28th. Inter Parfums’s dividend payout ratio is 52.31%.
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In related news, CFO Russell Greenberg sold 2,500 shares of Inter Parfums stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $39.60, for a total transaction of $99,000.00. Following the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at approximately $217,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.40% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in IPAR. SG Americas Securities LLC bought a new position in Inter Parfums during the 1st quarter worth approximately $107,000. US Bancorp DE boosted its stake in Inter Parfums by 45.4% during the 1st quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after acquiring an additional 995 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Inter Parfums by 68.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after acquiring an additional 1,296 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Inter Parfums by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after acquiring an additional 1,490 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Inter Parfums by 39.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after acquiring an additional 985 shares during the last quarter. 55.61% of the stock is currently owned by institutional investors and hedge funds.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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